<SEC-DOCUMENT>0001072613-21-000336.txt : 20210401
<SEC-HEADER>0001072613-21-000336.hdr.sgml : 20210401
<ACCEPTANCE-DATETIME>20210401171906
ACCESSION NUMBER:		0001072613-21-000336
CONFORMED SUBMISSION TYPE:	8-K
PUBLIC DOCUMENT COUNT:		4
CONFORMED PERIOD OF REPORT:	20210330
ITEM INFORMATION:		Entry into a Material Definitive Agreement
ITEM INFORMATION:		Unregistered Sales of Equity Securities
ITEM INFORMATION:		Financial Statements and Exhibits
FILED AS OF DATE:		20210401
DATE AS OF CHANGE:		20210401

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			EMPIRE PETROLEUM CORP
		CENTRAL INDEX KEY:			0000887396
		STANDARD INDUSTRIAL CLASSIFICATION:	CRUDE PETROLEUM & NATURAL GAS [1311]
		IRS NUMBER:				731238709
		STATE OF INCORPORATION:			DE
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		8-K
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	001-16653
		FILM NUMBER:		21799250

	BUSINESS ADDRESS:	
		STREET 1:		2200 S. UTICA PLACE
		STREET 2:		SUITE 150
		CITY:			TULSA
		STATE:			OK
		ZIP:			74114
		BUSINESS PHONE:		(539) 444-8002

	MAIL ADDRESS:	
		STREET 1:		2200 S. UTICA PLACE
		STREET 2:		SUITE 150
		CITY:			TULSA
		STATE:			OK
		ZIP:			74114

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	AMERICOMM RESOURCES CORP
		DATE OF NAME CHANGE:	19951115

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	AMERICOMM CORP
		DATE OF NAME CHANGE:	19930328
</SEC-HEADER>
<DOCUMENT>
<TYPE>8-K
<SEQUENCE>1
<FILENAME>emp_8k-18485.htm
<DESCRIPTION>FORM 8K DATED MARCH 30, 2021
<TEXT>
<HTML>
<HEAD>
<TITLE>Form 8-K</TITLE>
</HEAD>
<BODY>

<!-- Field: Rule-Page --><DIV ALIGN="LEFT" STYLE="margin-top: 3pt; margin-bottom: 12pt"><DIV STYLE="font-size: 1pt; border-top: Black 2pt solid; border-bottom: Black 1pt solid; width: 100%">&nbsp;</DIV></DIV><!-- Field: /Rule-Page -->

<P STYLE="font-weight: bold; font-size: 10pt; text-align: center; margin-top: 6pt; margin-bottom: 0pt"><FONT STYLE="font-size: 14pt">UNITED
STATES</FONT></P>

<P STYLE="font-weight: bold; font-size: 10pt; text-align: center; margin-top: 0pt; margin-bottom: 0pt"><FONT STYLE="font-size: 14pt">SECURITIES
AND EXCHANGE COMMISSION</FONT></P>

<P STYLE="font-weight: bold; font-size: 10pt; text-align: center; margin-top: 0pt; margin-bottom: 0pt"><FONT STYLE="font-size: 14pt">Washington,
D.C. 20549</FONT></P>

<P STYLE="font-weight: bold; font-size: 10pt; text-align: center; margin-top: 0pt; margin-bottom: 0pt"><FONT STYLE="font-size: 14pt">&nbsp;</FONT></P>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; text-align: center">_________________</P>

<P STYLE="padding-top: 0pt; font-size: 14pt; font-weight: bold; text-align: center; margin-top: 0pt; margin-bottom: 0pt; padding-bottom: 0pt">&nbsp;</P>

<P STYLE="padding-top: 0pt; font-size: 14pt; font-weight: bold; text-align: center; margin-top: 0pt; margin-bottom: 0pt; padding-bottom: 0pt"><FONT STYLE="font-size: 16pt">FORM
8-K</FONT></P>

<P STYLE="padding-top: 0pt; font-size: 14pt; font-weight: bold; text-align: center; margin-top: 0pt; margin-bottom: 0pt; padding-bottom: 0pt"><FONT STYLE="font-size: 11pt"></FONT><FONT STYLE="font-size: 16pt"></FONT></P>

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<P STYLE="padding-bottom: 0pt; padding-top: 0pt; margin-top: 0pt; margin-bottom: 12pt; text-align: center">_________________</P>

<P STYLE="font-weight: bold; font-size: 10pt; text-align: center; margin-top: 6pt; margin-bottom: 6pt"></P>

<P STYLE="font: 12pt/85% CG Times (W1); margin-top: 0; margin-bottom: 0; text-align: center"><FONT STYLE="font-size: 11pt; font-variant: small-caps; letter-spacing: -0.1pt"><B>Current
Report </B></FONT></P>

<P STYLE="font: 12pt/85% CG Times (W1); margin-top: 0; margin-bottom: 0; text-align: center"><FONT STYLE="font-size: 11pt; font-variant: small-caps; letter-spacing: -0.1pt"><B>Pursuant
To Section 13 or 15 (</B></FONT><B><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 11pt; letter-spacing: -0.1pt">d</FONT></B><B><FONT STYLE="font-size: 11pt; font-variant: small-caps; letter-spacing: -0.1pt">)
of the Securities Exchange Act of 1934</FONT></B></P>

<P STYLE="font: 9pt/85% CG Times (W1); margin-top: 0; margin-bottom: 0; text-align: center"><FONT STYLE="font-size: 11pt; font-variant: small-caps; letter-spacing: -0.1pt">&nbsp;</FONT></P>

<P STYLE="font: 9pt/85% CG Times (W1); margin-top: 0; margin-bottom: 0; text-align: center"><FONT STYLE="font-size: 11pt; font-variant: small-caps; letter-spacing: -0.1pt">&nbsp;</FONT></P>

<P STYLE="font: 12pt/85% Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; text-align: center"><FONT STYLE="font-size: 11pt; font-variant: small-caps; letter-spacing: -0.1pt"><B>Date
of Report (date of earliest event reported):</B></FONT></P>

<P STYLE="font: 12pt/85% Times New Roman, Times, Serif; margin: 0; text-align: center"><FONT STYLE="font-variant: small-caps; letter-spacing: -0.1pt"><B>&nbsp;</B></FONT></P>

<P STYLE="text-align: center; margin-top: 0; margin-bottom: 0"><FONT STYLE="font-size: 10pt"><B>MARCH 30, 2021</B></FONT></P>

<P STYLE="text-align: center; margin-top: 0; margin-bottom: 0"><B>&nbsp;</B></P>

<P STYLE="text-align: center">_______________________________</P>

<P STYLE="font-size: 12pt; text-align: center; margin-top: 6pt; margin-bottom: 0; font-weight: bold"><FONT STYLE="font-size: 20pt; letter-spacing: -0.1pt">EMPIRE
PETROLEUM CORPORATION</FONT></P>

<P STYLE="font-size: 10pt; text-align: center; margin-top: 0; margin-bottom: 6pt">(Exact name of registrant as specified in its charter)</P>

<P STYLE="text-align: center">_______________________________</P>

<P>&nbsp;</P>

<TABLE BORDER="0" CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%">
<TR STYLE="vertical-align: top">
     <TD STYLE="width: 33%; font-size: 10pt; font-weight: bold; text-align: center"><FONT STYLE="letter-spacing: -0.1pt">Delaware</FONT></TD>
     <TD STYLE="width: 34%; font-size: 10pt; font-weight: bold; text-align: center"><FONT STYLE="letter-spacing: -0.1pt">001-16653</FONT></TD>
     <TD STYLE="width: 33%; font-size: 10pt; font-weight: bold; text-align: center"><FONT STYLE="letter-spacing: -0.1pt">73-1238709</FONT></TD>
</TR>
<TR STYLE="vertical-align: top">
     <TD STYLE="font-size: 10pt; text-align: center">(State or Other Jurisdiction</TD>
     <TD STYLE="font-size: 10pt; text-align: center">(Commission</TD>
     <TD STYLE="font-size: 10pt; text-align: center">(I.R.S. Employer</TD>
</TR>
<TR STYLE="vertical-align: top">
     <TD STYLE="font-size: 10pt; text-align: center">of Incorporation)</TD>
     <TD STYLE="font-size: 10pt; text-align: center">File Number)</TD>
     <TD STYLE="font-size: 10pt; text-align: center">Identification No.)</TD>
</TR>
</TABLE>

<P STYLE="font-size: 10pt; text-align: center; margin-top: 12pt; margin-bottom: 0pt">&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: center; margin-top: 12pt; margin-bottom: 0pt"><B>2200 S. Utica Place, Suite 150, Tulsa Oklahoma <FONT STYLE="letter-spacing: -0.1pt">&#9; 74114</FONT></B></P>

<P STYLE="margin: 0pt 0pt 6pt; font-size: 10pt; text-align: center">(Address of Principal
Executive Offices) (Zip Code)</P>

<P STYLE="margin: 0pt 0pt 6pt; font-size: 10pt; text-align: center">&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: center; margin-top: 6pt; margin-bottom: 0pt"><FONT STYLE="letter-spacing: -0.1pt"><B>(539)
444-8002</B></FONT></P>

<P STYLE="font-size: 10pt; text-align: center; margin-top: 0pt; margin-bottom: 6pt">(Registrant&rsquo;s
telephone number, including area code)</P>

<P STYLE="font-size: 10pt; text-align: center; margin-top: 0pt; margin-bottom: 6pt"></P>

<P STYLE="font-size: 10pt; text-align: center; margin-top: 0pt; margin-bottom: 6pt">&nbsp;</P>

<P STYLE="padding-bottom: 0pt; font-size: 10pt; text-align: center; margin-top: 0pt; margin-bottom: 0pt">&nbsp;</P>

<P STYLE="padding-bottom: 0pt; font-size: 10pt; text-align: center; margin-top: 0pt; margin-bottom: 0pt"></P>

<P STYLE="padding-top: 0; font-size: 10pt; text-align: center; margin-top: 0pt; margin-bottom: 0pt"><B></B></P>

<P STYLE="padding-top: 0pt; font-size: 10pt; text-align: center; margin-top: 0pt; margin-bottom: 6pt">(Former name or former address,
if changed since last report)</P>

<P STYLE="font-size: 10pt; text-align: center; margin-top: 0pt; margin-bottom: 6pt">&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: left; text-indent: 0; margin-top: 6pt; margin-bottom: 6pt">Check
the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy
the filing obligation of the registrant under any of the following provisions:</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; margin-top: 6pt; margin-bottom: 6pt">
<TR STYLE="vertical-align: top">
     <TD STYLE="width: 3%; font-size: 10pt; text-align: left">&#9744;</TD>
     <TD STYLE="width: 97%; font-size: 10pt; text-align: left"> Written
communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)</TD>
</TR>
</TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; margin-top: 6pt; margin-bottom: 6pt">
<TR STYLE="vertical-align: top">
     <TD STYLE="width: 3%; font-size: 10pt; text-align: left">&#9744;</TD>
     <TD STYLE="width: 97%; font-size: 10pt; text-align: left"> Soliciting
material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)</TD>
</TR>
</TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; margin-top: 6pt; margin-bottom: 6pt">
<TR STYLE="vertical-align: top">
     <TD STYLE="width: 3%; font-size: 10pt; text-align: left">&#9744;</TD>
     <TD STYLE="width: 97%; font-size: 10pt; text-align: left"> Pre-commencement
communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))</TD>
</TR>
</TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; margin-top: 6pt; margin-bottom: 6pt">
<TR STYLE="vertical-align: top">
     <TD STYLE="width: 3%; font-size: 10pt; text-align: left">&#9744;</TD>
     <TD STYLE="width: 97%; font-size: 10pt; text-align: left"> Pre-commencement
communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))</TD>
</TR>
</TABLE>


<P STYLE="font-size: 10pt; text-align: left; text-indent: 0; margin-top: 6pt; margin-bottom: 6pt">&nbsp;&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: left; text-indent: 0; margin-top: 0pt; margin-bottom: 6pt">Securities registered pursuant to Section 12(b) of the Act:</P>

<TABLE BORDER="1" CELLSPACING="0" CELLPADDING="2" STYLE="border: Black 1pt solid; width: 100%">
<TR STYLE="vertical-align: top">
    <TD STYLE="vertical-align: middle; font-size: 10pt; text-align: center; margin-top: 6pt; margin-bottom: 6pt; width: 33%; border-bottom: Black 1pt solid">Title of each class</TD>
    <TD STYLE="vertical-align: middle; font-size: 10pt; text-align: center; margin-top: 6pt; margin-bottom: 6pt; width: 34%; border-bottom: Black 1pt solid">Trading Symbol(s)</TD>
    <TD STYLE="vertical-align: middle; font-size: 10pt; text-align: center; margin-top: 6pt; margin-bottom: 6pt; width: 33%; border-bottom: Black 1pt solid">Name of each exchange on which registered</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="font-size: 10pt; text-align: center"><P STYLE="margin: 0; font: 11pt CG Times (W1),serif"><FONT STYLE="letter-spacing: -0.1pt"><B>None</B></FONT></P>


</TD>
    <TD STYLE="font-size: 10pt; text-align: center"><P STYLE="font: 11pt CG Times (W1),serif; margin: 0 0 0pt"><FONT STYLE="letter-spacing: -0.1pt"><B>EMPR</B></FONT></P>


</TD>
    <TD STYLE="font-size: 10pt; text-align: center"><P STYLE="margin: 0; font: 11pt CG Times (W1),serif"><FONT STYLE="letter-spacing: -0.1pt"><B>None</B></FONT></P>


</TD></TR>
</TABLE>

<P STYLE="font-size: 10pt; text-align: left; text-indent: 0; margin-top: 6pt; margin-bottom: 6pt">&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: 0; margin-top: 0pt; margin-bottom: 0pt"><FONT STYLE="letter-spacing: -0.1pt">Indicate by check mark whether the registrant
is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (&sect;230.405 of this chapter) or Rule 12b-2
of the Securities Exchange Act of 1934 (&sect;240.12b-2 of this chapter)</FONT>.</P>

<P STYLE="font-size: 10pt; text-align: left; text-indent: 0; margin-top: 6pt; margin-bottom: 6pt">Emerging growth company &#9744;</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: 0; margin-top: 6pt; margin-bottom: 6pt">If an emerging growth company,
indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised
financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. &#9744;</P>


<!-- Field: Rule-Page --><DIV ALIGN="LEFT" STYLE="margin-top: 12pt; margin-bottom: 3pt"><DIV STYLE="font-size: 1pt; border-top: Black 1pt solid; border-bottom: Black 2pt solid; width: 100%">&nbsp;</DIV></DIV><!-- Field: /Rule-Page -->

<P STYLE="font-weight: bold; font-size: 10pt; text-align: center; margin-top: 6pt; margin-bottom: 6pt"></P>

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    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 6pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font-weight: bold; font-size: 10pt; text-align: center; margin-top: 6pt; margin-bottom: 6pt"></P>


<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font-size: 10pt; font-weight: bold; margin-top: 0; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0pt"></TD><TD STYLE="width: 60pt; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Item
                            1.01</B></FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Entry
                                         into a Material Definitive Agreement.</B></FONT></TD>
</TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">See
the description of the Securities Documents in Item 3.02 below, which information is incorporated by reference into this Item
1.01.</FONT></P>
<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font-size: 10pt; font-weight: bold; margin-top: 0; width: 100%">
<TR STYLE="vertical-align: top; text-align: justify"></FONT><TD STYLE="width: 0pt"></TD><TD STYLE="text-align: left; width: 60pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Item
                                         3.02</B></FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Unregistered
                                         Sales of Equity Securities.</B></FONT></TD>
</TR>
</TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;</FONT></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0; text-align: justify"></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">On
March 30, 2021, Empire Petroleum Corporation, a Delaware corporation (the &ldquo;Corporation&rdquo;), closed an offering of 8,993,857
shares of its common stock, par value $0.001 per share, along with warrants to purchase up to an aggregate of 8,993,857 shares
of the Corporation&rsquo;s common stock at an exercise price of $0.50, for an aggregate purchase price of $3,147,850. The offering
commenced on February 26, 2021 and the securities were sold to 38 accredited investors.</FONT></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">The
securities described above were sold pursuant to a securities purchase agreement entered into with each investor (each, a &ldquo;Securities
Agreement&rdquo;) and Common Share Warrant Certificate issued by the Corporation (each, a &ldquo;Warrant Certificate&rdquo; and,
collectively with the Securities Agreement, the &ldquo;Securities Purchase Documents&rdquo;). Under the Warrant Certificate, the
warrants may be exercised at any time from the date of issuance until December 31, 2022. The Securities Purchase Documents also
contain certain covenants, representations and warranties, and other customary terms and conditions.</FONT></P>

<P STYLE="font: 10pt CG Times (W1); margin: 0; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">The
foregoing descriptions of the Securities Purchase Documents are qualified in their entirety by reference to the full terms and
conditions of the Securities Purchase Documents, copies of which are filed as Exhibit 10.1 and Exhibit 10.2 to this Current Report
on Form 8-K and are incorporated herein by reference.</FONT></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="text-align: justify; margin: 0; font: 11pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">The
offers and sales related to the securities described above were not registered under the Securities Act of 1933, as amended, in
reliance upon the exemption from the registration requirements of that Act provided by Section 4(a)(2) thereof and Regulation
D promulgated by the Securities and Exchange Commission thereunder. The investors described above are sophisticated accredited
investors with the experience and expertise to evaluate the merits and risks of an investment in the Corporation's securities
and the financial means to bear the risks of such an investment.</FONT></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>



<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font-size: 10pt; font-weight: bold; margin-top: 0; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0pt"></TD><TD STYLE="width: 60pt; text-align: left"><FONT STYLE="font-size: 10pt"><B>Item 9.01</B></FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-size: 10pt"><B>Financial
                                         Statements and Exhibits.</B></FONT></TD>
</TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>



<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0">                                                                                                                                                                                                                                                                                                                                                                                                                  <TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"><FONT STYLE="font-size: 10pt">(d)&nbsp;</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-size: 10pt"><U>Exhibits.</U></FONT></TD></TR>
<TR STYLE="vertical-align: top">
<TD>&nbsp;</TD><TD STYLE="text-align: justify">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
<TD><A HREF="exh10-1_18485.htm">10.1</A></TD><TD STYLE="text-align: justify"><A HREF="exh10-1_18485.htm">Form
                                         of Securities Purchase Agreement entered into by and between Empire Petroleum Corporation
                                         and investors</A></TD></TR>
<TR STYLE="vertical-align: top">
<TD>&nbsp;</TD><TD STYLE="text-align: justify">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
<TD><A HREF="exh10-2_18485.htm">10.2</A></TD><TD STYLE="text-align: justify"><A HREF="exh10-2_18485.htm">Form
                                         of Common Share Warrant Certificate entered into by and between Empire Petroleum Corporation
                                         and investors</A></TD></TR>
</TABLE>

<P STYLE="margin: 0"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>




<P STYLE="margin: 0"></P>




<P STYLE="margin-top: 0; margin-bottom: 0"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>


<P STYLE="font-size: 10pt; font-weight: bold; text-align: center; margin-top: 6pt; margin-bottom: 6pt"></P>

<P STYLE="font-size: 10pt; font-weight: bold; text-align: center; margin-top: 6pt; margin-bottom: 6pt"></P>


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<P STYLE="font-size: 10pt; font-weight: bold; text-align: center; margin-top: 6pt; margin-bottom: 6pt"><A NAME="Signatures"></A>SIGNATURES</P>

<P STYLE="font-size: 10pt; text-align: left; text-indent: 20pt; margin-top: 6pt; margin-bottom: 6pt">Pursuant
to the requirements of the Securities Exchange Act of 1934, the Registrant has duly
caused this report to be signed on its behalf by the undersigned, hereunto duly
authorized.</P>

<P STYLE="font-size: 10pt; text-align: left; text-indent: 0; margin-top: 6pt; margin-bottom: 6pt">&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: left; text-indent: 0; margin-top: 6pt; margin-bottom: 6pt">&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: left; text-indent: 0; margin-top: 6pt; margin-bottom: 6pt">&nbsp;</P>

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<TR>
    <TD STYLE="vertical-align: top">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="white-space: nowrap"><P STYLE="margin: 0; font: 11pt Times New Roman, Times, Serif"><B>EMPIRE PETROLEUM CORPORATION</B></P>
                    <P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>
                    <P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>
                    <P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>


</TD>
    <TD>&nbsp;</TD>
</TR>
<TR>
    <TD STYLE="vertical-align: top; width: 43%">Date:  &#8239;&#8239;&#8239;April 1, 2021</TD>
    <TD STYLE="width: 1mm">By:</TD>
    <TD STYLE="vertical-align: top; width: 39%">/s/ Michael R. Morrisett</TD>
    <TD STYLE="width: 19%">&nbsp;</TD>
</TR>
<TR>
    <TD STYLE="vertical-align: top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="vertical-align: top; border-top: #000000 1px solid"><P STYLE="margin-top: 0; margin-bottom: 0">Michael R. Morrisett</P>
                                                                   <P STYLE="margin-top: 0; margin-bottom: 0"></P>
                                                                   <P STYLE="margin-top: 0; margin-bottom: 0">President</P></TD>
    <TD>&nbsp;</TD>
</TR>
</TABLE>

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<P STYLE="font-size: 10pt; text-align: left; text-indent: 0; margin-top: 6pt; margin-bottom: 6pt">&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: left; text-indent: 0; margin-top: 6pt; margin-bottom: 6pt">&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: left; text-indent: 0; margin-top: 6pt; margin-bottom: 6pt">&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: left; text-indent: 0; margin-top: 6pt; margin-bottom: 6pt">&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: left; text-indent: 0; margin-top: 6pt; margin-bottom: 6pt">&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: left; text-indent: 0; margin-top: 6pt; margin-bottom: 6pt">&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: left; text-indent: 0; margin-top: 6pt; margin-bottom: 6pt">&nbsp;</P>

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<P STYLE="font-size: 10pt; text-align: center; margin-top: 6pt; margin-bottom: 6pt">-3-</P>

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</DOCUMENT>
<DOCUMENT>
<TYPE>EX-10.1
<SEQUENCE>2
<FILENAME>exh10-1_18485.htm
<DESCRIPTION>FORM OF SECURITIES PURCHASE AGREEMENT
<TEXT>
<HTML>
<HEAD>
<TITLE></TITLE>
</HEAD>
<BODY>


<P STYLE="font: 18pt/25.5pt Arial, Helvetica, Sans-Serif; margin: 0; text-align: right; background-color: white; color: #444444"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B><U>EXHIBIT
10.1</U></B></FONT></P>

<P STYLE="font: 12pt/12pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; letter-spacing: -0.15pt"><B>SECURITIES
PURCHASE AGREEMENT</B></FONT></P>

<P STYLE="font: 12pt/12pt Times New Roman, Times, Serif; margin: 0; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><IMG SRC="image_002.jpg" ALT="Empire Logo.jpg" STYLE="height: 83px; width: 175px"></FONT></P>

<P STYLE="font: 12pt/12pt Times New Roman, Times, Serif; margin: 0; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; letter-spacing: -0.15pt">&nbsp;</FONT></P>

<P STYLE="font: 12pt/12pt Times New Roman, Times, Serif; margin: 0; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; letter-spacing: -0.15pt">2200
South Utica Place</FONT></P>

<P STYLE="font: 12pt/12pt Times New Roman, Times, Serif; margin: 0; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; letter-spacing: -0.15pt">Suite
150</FONT></P>

<P STYLE="font: 12pt/12pt Times New Roman, Times, Serif; margin: 0; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; letter-spacing: -0.15pt">Tulsa,
Oklahoma 74114</FONT></P>

<P STYLE="font: 12pt/12pt Times New Roman, Times, Serif; margin: 0; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; letter-spacing: -0.15pt">(539)
444-8002 </FONT></P>

<P STYLE="font: 12pt/12pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; letter-spacing: -0.15pt">&nbsp;</FONT></P>

<P STYLE="font: 12pt/12pt Times New Roman, Times, Serif; margin: 0; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; letter-spacing: -0.15pt">February
__, 2021</FONT></P>

<P STYLE="font: 12pt/12pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; letter-spacing: -0.15pt">&nbsp;</FONT></P>

<P STYLE="font: 12pt/12pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; letter-spacing: -0.15pt">&nbsp;</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 12pt/12pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 6pt; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 20pt; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; letter-spacing: -0.15pt">TO:</FONT></TD><TD STYLE="width: 20pt"></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; letter-spacing: -0.15pt">____________________</FONT></TD>
</TR>               <TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD><TD STYLE="text-align: justify">________________</TD></TR>
<TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD><TD STYLE="text-align: justify">________________</TD></TR>
</TABLE>

<P STYLE="font: 12pt/12pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in"></P>

<P STYLE="font: 12pt/12pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; letter-spacing: -0.15pt">&nbsp;</FONT></P>

<P STYLE="font: 12pt/12pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; letter-spacing: -0.15pt">The
undersigned, Empire Petroleum Corporation, a Delaware corporation (the &ldquo;Company&rdquo;), hereby agrees with you as follows,
effective as of the date above written:</FONT></P>

<P STYLE="font: 12pt/12pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; letter-spacing: -0.15pt">&nbsp;</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 12pt/12pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 6pt; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0pt; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; letter-spacing: -0.15pt"><B>1.</B></FONT></TD><TD STYLE="width: 4%"></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; letter-spacing: -0.15pt"><B>Authorization
and Sale of the Securities.</B></FONT></TD>
</TR></TABLE>

<P STYLE="font: 12pt/12pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; letter-spacing: -0.15pt">&nbsp;</FONT></P>

<P STYLE="font: 12pt/12pt Times New Roman, Times, Serif; margin: 0 0 6pt; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; letter-spacing: -0.15pt">1.1<I>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
&#8239;&#8239;&#8239;Authorization</I>. The Company represents that it has authorized the issuance to you pursuant to the terms and conditions
hereof of:</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 12pt/12pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 1in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; letter-spacing: -0.15pt">(a)</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; letter-spacing: -0.15pt">_________
                                         shares of its common stock, par value $0.001 per share (the &ldquo;Common Stock&rdquo;);
                                         and</FONT></TD></TR></TABLE>

<P STYLE="font: 12pt/12pt Times New Roman, Times, Serif; margin: 0 0 0 1.25in; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; letter-spacing: -0.15pt">&nbsp;</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 12pt/12pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 1in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; letter-spacing: -0.15pt">(b)</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; letter-spacing: -0.15pt">a
                                         warrant (the &ldquo;Warrant&rdquo;) to purchase ________ shares of the Company&rsquo;s
                                         Common Stock (&ldquo;Warrant Shares&rdquo;) in accordance with the terms set forth in
                                         the form of the Common Share Warrant Certificate attached hereto as Exhibit A; each Warrant
                                         entitles the Warrant Holder to purchase Common Stock at $0.50 per share until December
                                         31, 2022. The Warrants are callable as described in Exhibit A.</FONT></TD></TR></TABLE>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; letter-spacing: -0.15pt">&nbsp;</FONT></P>

<P STYLE="font: 12pt/12pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; letter-spacing: -0.15pt">The
shares of Common Stock and Warrant to be purchased pursuant to the terms of this Agreement are collectively referred to herein
as the &ldquo;Securities&rdquo;.</FONT></P>

<P STYLE="font: 12pt/12pt Times New Roman, Times, Serif; margin: 0 0 0 1.25in; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; letter-spacing: -0.15pt">&nbsp;</FONT></P>

<P STYLE="font: 12pt/12pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; letter-spacing: -0.15pt">1.2<I>&nbsp;&nbsp;&nbsp;&nbsp;&#8239;&#8239;&#8239;&#8239;&nbsp;&nbsp;&nbsp;Sale</I>.
Subject to the terms and conditions hereof, on the Purchase Date (as defined Section 2 below), the Company shall issue and sell
to you and you shall purchase from the Company, the Securities for an aggregate purchase price of $<U>_______ </U>(the &ldquo;Purchase
Price&rdquo;).</FONT></P>

<P STYLE="font: 12pt/12pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; letter-spacing: -0.15pt">&nbsp;</FONT></P>

<P STYLE="font: 12pt/12pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; letter-spacing: -0.15pt"><B>&nbsp;</B></FONT></P>

<P STYLE="font: 12pt/12pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; letter-spacing: -0.15pt"><B>&nbsp;</B></FONT></P>

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<P STYLE="font: 12pt/12pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><FONT STYLE="font: 10pt Times New Roman, Times, Serif; letter-spacing: -0.15pt"><B></B></FONT></P>

<P STYLE="font: 12pt/12pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 12pt/12pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 6pt; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0pt; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; letter-spacing: -0.15pt"><B>2.</B></FONT></TD><TD STYLE="width: 4%"></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; letter-spacing: -0.15pt"><B>Payment
of Purchase Price; Delivery.</B></FONT></TD>
</TR></TABLE>

<P STYLE="font: 12pt/12pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; letter-spacing: -0.15pt"></FONT></P>

<P STYLE="font: 12pt/12pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; letter-spacing: -0.15pt">Upon
the execution of this Agreement, you shall deliver to the Company wire funds or a check payable to the Company in the amount of
the Purchase Price. Upon receipt of the Purchase Price from you (the &ldquo;Purchase Date&rdquo;), the Company shall promptly issue
and deliver to you the Securities. </FONT></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Bank
of Oklahoma</FONT></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">One
Williams Center</FONT></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Tulsa,
Oklahoma 74172</FONT></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(918)
588-6435</FONT></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Routing
Number: 103900036</FONT></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">FBO:
Empire Petroleum Corporation</FONT></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Account
Number: 209976221</FONT></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">2200
South Utica Place, Suite 150</FONT></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Tulsa,
Oklahoma 74114</FONT></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 12pt/12pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 6pt; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0pt; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; letter-spacing: -0.15pt"><B>3.</B></FONT></TD><TD STYLE="width: 4%"></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; letter-spacing: -0.15pt"><B>Representations
and Warranties of the Company.</B></FONT></TD>
</TR></TABLE>

<P STYLE="font: 12pt/12pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; letter-spacing: -0.15pt"><B></B></FONT></P>

<P STYLE="font: 12pt/12pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; letter-spacing: -0.15pt">The
Company hereby represents and warrants to you as follows:</FONT></P>

<P STYLE="font: 12pt/12pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; letter-spacing: -0.15pt">&nbsp;</FONT></P>

<P STYLE="font: 12pt/12pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; letter-spacing: -0.15pt">3.1<I>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&#8239;&#8239;&#8239;Organization
and Standing; Articles and Bylaws</I>. The Company is a corporation duly organized and existing under, and by virtue of, the laws
of the State of Delaware and is in good standing under such laws. The Company is qualified, licensed or domesticated as a foreign
corporation in all jurisdictions where the nature of its business conducted or the character of its properties owned or leased
makes such qualification, licensing or domestication necessary at this time except in those jurisdictions where the failure to
be so qualified or licensed and in good standing does not and will not have a materially adverse effect on the Company, the conduct
of its business or the ownership or operation of its properties. The Company&rsquo;s Certificate of Incorporation, as amended,
and Bylaws, which have been filed as attachments to the Company reports it files with Securities and Exchange Commission, are
true, correct and complete, and contain all amendments through the date of this Agreement (the &ldquo;SEC&rdquo;).</FONT></P>

<P STYLE="font: 12pt/12pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; letter-spacing: -0.15pt">&nbsp;</FONT></P>

<P STYLE="font: 12pt/12pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; letter-spacing: -0.15pt">3.2<I>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&#8239;&#8239;&#8239;Corporate
Power</I>. The Company has the requisite corporate power to own and operate its properties and assets, and to carry on its business
as presently conducted and as proposed to be conducted. The Company has now, and will have at the Purchase Date, all requisite
legal and corporate power to enter into this Agreement, to sell the Securities hereunder, and to carry out and perform its obligations
under the terms of this Agreement.</FONT></P>

<P STYLE="font: 12pt/12pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; letter-spacing: -0.15pt">&nbsp;</FONT></P>

<P STYLE="font: 12pt/12pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; letter-spacing: -0.15pt">3.3<I>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&#8239;&#8239;&#8239;Capitalization</I>.
The authorized capital stock of the Company consists of 150,000,000 shares of common stock, par value $0.001 per share. There
are issued and outstanding approximately 24,892,277 shares of common stock. The issued and outstanding shares of common stock
are fully paid and nonassessable. Except as disclosed in the Disclosure Materials (as defined in Section&nbsp;4.1 below), there
are no outstanding options, warrants or other rights, including preemptive rights, entitling the holder thereof to purchase or
acquire shares of common stock of the Company.</FONT></P>

<P STYLE="font: 12pt/12pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>

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<P STYLE="font: 12pt/12pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"></FONT></P>

<P STYLE="font: 12pt/12pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; letter-spacing: -0.15pt">&nbsp;</FONT></P>

<P STYLE="font: 12pt/12pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; letter-spacing: -0.15pt">3.4<I>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&#8239;&#8239;&#8239;Authorization</I>.</FONT></P>

<P STYLE="font: 12pt/12pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; letter-spacing: -0.15pt">&nbsp;</FONT></P>

<P STYLE="font: 12pt/12pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 1in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; letter-spacing: -0.15pt">(a)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;All
corporate action on the part of the Company, its officers, directors and shareholders necessary for the sale and issuance of the
Common Stock pursuant hereto and the performance of the Company&rsquo;s obligations hereunder has been taken or will be taken
prior to the Purchase Date. This Agreement is a legal, valid and binding obligation of the Company, enforceable against the Company
in accordance with its terms, except as limited by bankruptcy, insolvency, reorganization, moratorium or similar laws of general
application affecting enforcement of creditors&rsquo; rights, and except as limited by application of legal principles affecting
the availability of equitable remedies.</FONT></P>

<P STYLE="font: 12pt/12pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in; text-align: justify; text-indent: -0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; letter-spacing: -0.15pt">&nbsp;</FONT></P>

<P STYLE="font: 12pt/12pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 1in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; letter-spacing: -0.15pt">(b)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The
Securities, when issued in compliance with the provisions of this Agreement, will be validly issued, fully paid and nonassessable,
and will be free of any liens or encumbrances; provided, however, that such Securities and the Warrant Shares will be subject
to restrictions on transfer under state and/or Federal securities laws, and as may be required by future changes in such laws.</FONT></P>

<P STYLE="font: 12pt/12pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; letter-spacing: -0.15pt">&nbsp;</FONT></P>

<P STYLE="font: 12pt/12pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 1in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; letter-spacing: -0.15pt">(c)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;No
shareholder of the Company has any right of first refusal or any preemptive rights in connection with the issuance of the Securities
or of any other capital stock of the Company.</FONT></P>

<P STYLE="font: 12pt/12pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; letter-spacing: -0.15pt">&nbsp;</FONT></P>

<P STYLE="font: 12pt/12pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; letter-spacing: -0.15pt">3.5<I>&nbsp;&nbsp;&nbsp;&#8239;&#8239;&#8239;&nbsp;&nbsp;&nbsp;&nbsp;Compliance
with Instruments</I>. The Company is not in violation of any terms of its Certificate of Incorporation, as amended, or Bylaws,
or, to the knowledge of the Company, any judgment, decree or order applicable to it. The execution, delivery and performance by
the Company of this Agreement, and the issuance and sale of the Securities pursuant hereto, will not result in any such violation
or be in conflict with or constitute a default under any such term, or cause the acceleration of maturity of any loan or material
obligation to which the Company is a party or by which it is bound or with respect to which it is an obligor or guarantor, or
result in the creation or imposition of any material lien, claim, charge, restriction, equity or encumbrance of any kind whatsoever
upon, or, to the knowledge of the Company, give to any other person any interest or right (including any right of termination
or cancellation) in or with respect to any of the material properties, assets, business or agreements of the Company.</FONT></P>

<P STYLE="font: 12pt/12pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; letter-spacing: -0.15pt">&nbsp;</FONT></P>

<P STYLE="font: 12pt/12pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; letter-spacing: -0.15pt">3.6<I>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&#8239;&#8239;&#8239;&nbsp;&nbsp;Litigation,
etc</I>. There are no actions, proceedings or, to the knowledge of the Company, investigations pending which might result in any
material adverse change in the business, prospects, conditions, affairs or operations of the Company or in any of its properties
or assets, or in any impairment of the right or ability of the Company to carry on its business as proposed to be conducted, or
in any material liability on the part of the Company, or which question the validity of this Agreement or any action taken or
to be taken in connection herewith.</FONT></P>

<P STYLE="font: 12pt/12pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; letter-spacing: -0.15pt">&nbsp;</FONT></P>

<P STYLE="font: 12pt/12pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; letter-spacing: -0.15pt">3.7<I>&nbsp;&nbsp;&#8239;&#8239;&#8239;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Governmental
Consent, etc</I>. Except as may be required in connection with any filings required under the Federal securities laws and/or the
securities laws of any state due to the offer and sale of the Securities pursuant to this Agreement, no consent, approval or authorization
of, or designation, declaration or filing with, any governmental unit is required on the part of the Company in connection with
the valid execution and delivery of this Agreement, or the offer, sale or issuance of the Securities or the consummation of any
other transaction contemplated hereby.</FONT></P>

<P STYLE="font: 12pt/12pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; letter-spacing: -0.15pt">&nbsp;</FONT></P>

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<P STYLE="font: 12pt/12pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><FONT STYLE="font: 10pt Times New Roman, Times, Serif; letter-spacing: -0.15pt">&nbsp;</FONT></P>

<P STYLE="font: 12pt/12pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><FONT STYLE="font: 10pt Times New Roman, Times, Serif; letter-spacing: -0.15pt"></FONT></P>

<P STYLE="font: 12pt/12pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; letter-spacing: -0.15pt">3.8<I>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&#8239;&#8239;&#8239;&nbsp;&nbsp;Securities
Registration and Filings</I>. The outstanding shares of the Company&rsquo;s Securities are registered pursuant to Section 12(g)
of the Securities Exchange Act of 1934, as amended (the &ldquo;Exchange Act&rdquo;). The Company has filed all reports required
by Section 13 or 15(d) of the Exchange Act during the last two fiscal years. All of such reports were, at the time they were filed,
complete and accurate in all material respects and did not include an untrue statement of a material fact or omit to state a material
fact necessary in order to make the statements made therein, in the light of the circumstances under which they were made, not
misleading.</FONT></P>

<P STYLE="font: 12pt/12pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; letter-spacing: -0.15pt">&nbsp;</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 12pt/12pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 6pt; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0pt; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; letter-spacing: -0.15pt"><B>4.</B></FONT></TD><TD STYLE="width: 4%"></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; letter-spacing: -0.15pt"><B>Representations
and Warranties of Purchaser and Restrictions on Transfer Imposed by the Securities Act.</B></FONT></TD>
</TR></TABLE>

<P STYLE="font: 12pt/12pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; letter-spacing: -0.15pt"></FONT></P>

<P STYLE="font: 12pt/12pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; letter-spacing: -0.15pt">4.1<I>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&#8239;&#8239;&#8239;Representations
and Warranties by Purchaser</I>. You represent and warrant to the Company as follows:</FONT></P>

<P STYLE="font: 12pt/12pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; letter-spacing: -0.15pt">&nbsp;</FONT></P>

<P STYLE="font: 12pt/12pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 1in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; letter-spacing: -0.15pt">(a)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;You
have reviewed the following copies of the Company&rsquo;s (all of which is collectively referred to as the &ldquo;Disclosure Materials&rdquo;):</FONT></P>

<P STYLE="font: 10pt/12pt Times New Roman, Times, Serif; margin: 0"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; letter-spacing: -0.15pt">&nbsp;</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 12pt/12pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 1.5in"></TD><TD STYLE="width: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(i)</FONT></TD><TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Current
                                         Report on Form 8-K/A filed on January 6, 2021 located at </FONT></TD></TR></TABLE>

<P STYLE="font: 10pt/12pt Times New Roman, Times, Serif; margin: 0; color: blue"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><U><A HREF="https://www.sec.gov/Archives/edgar/data/887396/000107261321000008/emp_8k-18455.htm">https://www.sec.gov/Archives/edgar/data/887396/000107261321000008/emp_8k-18455.htm</A></U></FONT></P>

<P STYLE="font: 10pt/12pt Times New Roman, Times, Serif; margin: 0"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 12pt/12pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 1.5in"></TD><TD STYLE="width: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(ii)</FONT></TD><TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Quarterly
                                         Report on Form 10Q for quarter ended November 16, 2020 located at</FONT></TD></TR></TABLE>

<P STYLE="font: 10pt/12pt Times New Roman, Times, Serif; margin: 0"><A HREF="https://www.sec.gov/Archives/edgar/data/887396/000107261320000378/form10q093020.htm"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">https://www.sec.gov/Archives/edgar/data/887396/000107261320000378/form10q093020.htm</FONT></A></P>

<P STYLE="font: 10pt/12pt Times New Roman, Times, Serif; margin: 0"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 12pt/12pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 1.5in"></TD><TD STYLE="width: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(iii)</FONT></TD><TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Current
                                         Report on Form 8-K filed on October 6, 2020 located at</FONT></TD></TR></TABLE>

<P STYLE="font: 10pt/12pt Times New Roman, Times, Serif; margin: 0"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><A HREF="https://www.sec.gov/Archives/edgar/data/887396/000107261320000331/emp_8k-18436.htm">https://www.sec.gov/Archives/edgar/data/887396/000107261320000331/emp_8k-18436.htm</A></FONT></P>

<P STYLE="font: 10pt/12pt Times New Roman, Times, Serif; margin: 0"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 12pt/12pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 1.5in"></TD><TD STYLE="width: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(iv)</FONT></TD><TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Quarterly
                                         Report on Form 10Q for quarter ended August 14, 2020 located at</FONT></TD></TR></TABLE>

<P STYLE="font: 10pt/12pt Times New Roman, Times, Serif; margin: 0; color: blue"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><U><A HREF="https://www.sec.gov/Archives/edgar/data/887396/000107261320000282/form10q063020.htm">https://www.sec.gov/Archives/edgar/data/887396/000107261320000282/form10q063020.htm</A></U></FONT></P>

<P STYLE="font: 12pt/12pt Times New Roman, Times, Serif; margin: 0"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 12pt/12pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 1.5in"></TD><TD STYLE="width: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(v)</FONT></TD><TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Current
                                         Report on Form 8-K filed on August 11, 2020 located at</FONT></TD></TR></TABLE>

<P STYLE="font: 10pt/12pt Times New Roman, Times, Serif; margin: 0"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><A HREF="https://www.sec.gov/Archives/edgar/data/887396/000107261320000267/emp_8k-18423.htm">https://www.sec.gov/Archives/edgar/data/887396/000107261320000267/emp_8k-18423.htm</A></FONT></P>

<P STYLE="font: 10pt/12pt Times New Roman, Times, Serif; margin: 0"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 12pt/12pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 1.5in"></TD><TD STYLE="width: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(vi)</FONT></TD><TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Current
                                         Report on Form 8-K filed on August 11, 2020 located at</FONT></TD></TR></TABLE>

<P STYLE="font: 10pt/12pt Times New Roman, Times, Serif; margin: 0"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><A HREF="https://www.sec.gov/Archives/edgar/data/887396/000107261320000266/emp_8k-18422.htm">https://www.sec.gov/Archives/edgar/data/887396/000107261320000266/emp_8k-18422.htm</A></FONT></P>

<P STYLE="font: 10pt/12pt Times New Roman, Times, Serif; margin: 0"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 12pt/12pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 1.5in"></TD><TD STYLE="width: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(vii)</FONT></TD><TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Current
                                         Report on Form 8-K/A filed on June 23, 2020 located at </FONT></TD></TR></TABLE>

<P STYLE="font: 10pt/12pt Times New Roman, Times, Serif; margin: 0; color: blue"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><U><A HREF="https://www.sec.gov/Archives/edgar/data/887396/000107261320000208/emp_8ka-18407.htm">https://www.sec.gov/Archives/edgar/data/887396/000107261320000208/emp_8ka-18407.htm</A></U></FONT></P>

<P STYLE="font: 10pt/12pt Times New Roman, Times, Serif; margin: 0"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 12pt/12pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 1.5in"></TD><TD STYLE="width: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(viii)</FONT></TD><TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Current
                                         Report on Form 8-K filed on June 23, 2020 located at </FONT></TD></TR></TABLE>

<P STYLE="font: 10pt/12pt Times New Roman, Times, Serif; margin: 0"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><A HREF="https://www.sec.gov/Archives/edgar/data/887396/000107261320000207/emp_8k-18407.htm">https://www.sec.gov/Archives/edgar/data/887396/000107261320000207/emp_8k-18407.htm</A></FONT></P>

<P STYLE="font: 10pt/12pt Times New Roman, Times, Serif; margin: 0 0 0 2in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 12pt/12pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 1.5in"></TD><TD STYLE="width: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(ix)</FONT></TD><TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Quarterly
                                         Report on Form 10Q for quarter ended March 31, 2020 located at</FONT></TD></TR></TABLE>

<P STYLE="font: 10pt/12pt Times New Roman, Times, Serif; margin: 0"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><A HREF="https://www.sec.gov/Archives/edgar/data/887396/000107261320000180/form10q33120.htm">https://www.sec.gov/Archives/edgar/data/887396/000107261320000180/form10q33120.htm</A></FONT></P>

<P STYLE="font: 10pt/12pt Times New Roman, Times, Serif; margin: 0"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 12pt/12pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 1.5in"></TD><TD STYLE="width: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(x)</FONT></TD><TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Current
                                         Report on Form 8-K filed on April 17, 2020 located at</FONT></TD></TR></TABLE>

<P STYLE="font: 10pt/12pt Times New Roman, Times, Serif; margin: 0; color: blue"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><U><A HREF="https://www.sec.gov/Archives/edgar/data/887396/000107261320000164/emp_8k-18389.htm">https://www.sec.gov/Archives/edgar/data/887396/000107261320000164/emp_8k-18389.htm</A></U></FONT></P>

<P STYLE="font: 12pt/12pt Times New Roman, Times, Serif; margin: 0"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 12pt/12pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 1.5in"></TD><TD STYLE="width: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(xi)</FONT></TD><TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Current
                                         Report on Form 8-K filed on April 10, 2020 located at</FONT></TD></TR></TABLE>

<P STYLE="font: 10pt/12pt Times New Roman, Times, Serif; margin: 0; color: blue"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><U><A HREF="https://www.sec.gov/Archives/edgar/data/887396/000107261320000157/emp_8k-18389.htm">https://www.sec.gov/Archives/edgar/data/887396/000107261320000157/emp_8k-18389.htm</A></U></FONT></P>

<P STYLE="font: 10pt/12pt Times New Roman, Times, Serif; margin: 0"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 12pt/12pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 1.5in"></TD><TD STYLE="width: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(xii)</FONT></TD><TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Annual
                                         Report on Form 10-K for year ended December 31, 2019 located at</FONT></TD></TR></TABLE>

<P STYLE="font: 10pt/12pt Times New Roman, Times, Serif; margin: 0"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><A HREF="https://www.sec.gov/Archives/edgar/data/887396/000107261320000149/form10k123119.htm">https://www.sec.gov/Archives/edgar/data/887396/000107261320000149/form10k123119.htm</A></FONT></P>

<P STYLE="font: 10pt/12pt Times New Roman, Times, Serif; margin: 0"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 12pt/12pt Times New Roman, Times, Serif; margin: 0"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 12pt/12pt Times New Roman, Times, Serif; margin: 0"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"></FONT></P>

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<P STYLE="font: 12pt/12pt Times New Roman, Times, Serif; margin: 0"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 12pt/12pt Times New Roman, Times, Serif; margin: 0"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 12pt/12pt Times New Roman, Times, Serif; margin: 0"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; letter-spacing: -0.15pt">You
have also reviewed the Company&rsquo;s Certificate of Incorporation, as amended, and Bylaws.</FONT></P>

<P STYLE="font: 10pt/12pt Times New Roman, Times, Serif; margin: 0"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; letter-spacing: -0.15pt">&nbsp;</FONT></P>

<P STYLE="font: 12pt/12pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 1in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; letter-spacing: -0.15pt">(b)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;You
are experienced in evaluating and investing in companies such as the Company. Further, you understand that the Securities purchased
hereby is of a highly speculative nature and could result in the loss of your entire investment.</FONT></P>

<P STYLE="font: 12pt/12pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; letter-spacing: -0.15pt">&nbsp;</FONT></P>

<P STYLE="font: 12pt/12pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 1in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; letter-spacing: -0.15pt">(c)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;You
have been furnished by the Company with all information requested concerning the proposed operations, affairs and current financial
condition of the Company. Such information and access have been available to the extent you consider necessary and advisable in
making an intelligent investment decision. In addition, you have received and reviewed copies of the Disclosure Materials and
have had the opportunity to discuss the Company&rsquo;s business, management and financial affairs with its Chief Executive Officer,
President or Board of Directors Chairman. You understand that such discussions, as well as the Disclosure Materials and any other
written information issued by the Company, were intended to describe certain aspects of the Company&rsquo;s business and prospects
which it believes to be material but were not necessarily a thorough or exhaustive description.</FONT></P>

<P STYLE="font: 12pt/12pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; letter-spacing: -0.15pt">&nbsp;</FONT></P>

<P STYLE="font: 12pt/12pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 1in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; letter-spacing: -0.15pt">(d)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The
Securities to be acquired by you will be acquired, solely for your account, for investment purposes only and not with a view to
the resale or distribution thereof, are not being purchased for subdivision or fractionalization thereof, and you have no contract,
undertaking, agreement or arrangement with any person to sell or transfer such Securities to any person and do not intend to enter
into such contract or arrangement.</FONT></P>

<P STYLE="font: 12pt/12pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; letter-spacing: -0.15pt">&nbsp;</FONT></P>

<P STYLE="font: 12pt/12pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 1in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; letter-spacing: -0.15pt">(e)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;You
understand that the Securities have not been registered under the Securities Act of 1933, as amended (the &ldquo;Securities Act&rdquo;),
nor are they registered or qualified under the blue sky or securities laws of any state, by reason of their issuance in a transaction
exempt from the registration and prospectus delivery requirements of the Securities Act pursuant to Sections 3(b) or 4(2) of the
Securities Act and available exemptions from the registration requirements of any applicable state securities laws. You further
understand that the Securities must be held by you indefinitely and you must therefore bear the economic risk of such investment
indefinitely, unless a subsequent disposition thereof is registered under the Securities Act or is exempt from registration.</FONT></P>

<P STYLE="font: 12pt/12pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; letter-spacing: -0.15pt">&nbsp;</FONT></P>

<P STYLE="font: 12pt/12pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 1in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; letter-spacing: -0.15pt">(f)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;You
have the full right, power and authority to enter into and perform this Agreement, and this Agreement constitutes a legal, valid
and binding obligation upon you, except as may be limited by bankruptcy, insolvency, reorganization, moratorium or similar laws
of general application affecting enforcement of creditors&rsquo; rights, and except as limited by application of legal principles
affecting the availability of equitable remedies.</FONT></P>

<P STYLE="font: 12pt/12pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; letter-spacing: -0.15pt">&nbsp;</FONT></P>

<P STYLE="font: 12pt/12pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 1in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; letter-spacing: -0.15pt">(g)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;You
are able to bear the full economic risk of your investment in the Securities, including the risk of a total loss of your investment
in connection therewith. You are an accredited investor as that term is defined in Rule 501(a) of Regulation D promulgated by
the SEC. </FONT></P>

<P STYLE="font: 12pt/12pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; letter-spacing: -0.15pt">&nbsp;</FONT></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 1in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 1in"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 1in"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"></FONT></P>

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    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 6pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
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<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 1in"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">By
initialing one of the categories below, the undersigned represents and warrants that the undersigned comes within the category
so initialed and has truthfully set forth the factual basis or reason the undersigned comes within that category. ALL INFORMATION
IN RESPONSE TO THIS PARAGRAPH WILL BE KEPT STRICTLY CONFIDENTIAL. The undersigned agrees to furnish any additional information
which the Company deems necessary in order to verify the answers set forth below.</FONT></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 6pt 2in; text-align: justify; text-indent: -2in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; letter-spacing: -0.15pt">Category
I&#9; &#9;__________ &#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;The undersigned is an individual (not a partnership, corporation, etc.) whose individual net worth, or
joint net worth with the undersigned's spouse, presently exceeds U.S. $1,000,000.</FONT></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 6pt 2in; text-align: justify; text-indent: 0in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; letter-spacing: -0.15pt">Explanation.
In calculation of net worth the undersigned may not include equity in the undersigned&rsquo;s primary residence, however the undersigned
can include equity in all other real estate. The calculation of net worth may also include the undersigned&rsquo;s personal property,
cash, short term investments, stocks and securities. Equity in personal property and real estate should be based on the fair market
value of such property less debt secured by such property. Any debt that secures the undersigned&rsquo;s primary residence can
be excluded from liabilities in calculating the undersigned&rsquo;s net worth, as long as the debt does not exceed the fair market
value of the property (except that if the amount of such debt outstanding at the time of the undersigned&rsquo;s purchase of the
Shares exceeds the amount outstanding 60 days before such time, other than as a result of the acquisition of the primary residence,
the amount of such excess shall be included as a liability). If, however,&nbsp;the amount of the debt exceeds the fair market
value of the primary residence and the mortgagee&nbsp;or other lender has recourse to the undersigned personally&nbsp;for any
deficiency, that&nbsp;excess liability should be deducted from the undersigned's net worth.</FONT></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 6pt 2in; text-align: justify; text-indent: -2in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; letter-spacing: -0.15pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif; letter-spacing: -0.15pt">Category
II&#9; &#9;_________ &#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;The undersigned is an individual (not a partnership, corporation, etc.) who had an individual income in excess of U.S.
$200,000 in each of the two most recent years, or joint income with the undersigned's spouse in excess of $300,000 in each of
the two most recent years, and has a reasonable expectation of reaching the same income level in the current year.</FONT></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 0 2in; text-align: justify; text-indent: -2in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; letter-spacing: -0.15pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif; letter-spacing: -0.15pt">Category
III&#9; &#9;&#8239;________ &#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;The undersigned otherwise meets the definition of &ldquo;Accredited Investors&rdquo; as defined in Section 230.501(a)
of the Act.</FONT></P>

<P STYLE="font: 12pt/12pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; letter-spacing: -0.15pt">&nbsp;</FONT></P>

<P STYLE="font: 12pt/12pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 1in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; letter-spacing: -0.15pt">(h)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;You
were not offered the Securities by means of general solicitations, publicly disseminated advertisements or sales literature.</FONT></P>

<P STYLE="font: 12pt/12pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; letter-spacing: -0.15pt">&nbsp;</FONT></P>

<P STYLE="font: 12pt/12pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; letter-spacing: -0.15pt">&nbsp;</FONT></P>

<P STYLE="font: 12pt/12pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; letter-spacing: -0.15pt">&nbsp;</FONT></P>

<P STYLE="font: 12pt/12pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; letter-spacing: -0.15pt">&nbsp;</FONT></P>

<P STYLE="font: 12pt/12pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; letter-spacing: -0.15pt">&nbsp;</FONT></P>

<P STYLE="font: 12pt/12pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; letter-spacing: -0.15pt">&nbsp;</FONT></P>

<P STYLE="font: 12pt/12pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; letter-spacing: -0.15pt">&nbsp;</FONT></P>

<P STYLE="font: 12pt/12pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; letter-spacing: -0.15pt">&nbsp;</FONT></P>

<P STYLE="font: 12pt/12pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; letter-spacing: -0.15pt">&nbsp;</FONT></P>

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<P STYLE="font: 12pt/12pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><FONT STYLE="font: 10pt Times New Roman, Times, Serif; letter-spacing: -0.15pt"></FONT></P>

<P STYLE="font: 12pt/12pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; letter-spacing: -0.15pt">&nbsp;</FONT></P>

<P STYLE="font: 12pt/12pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; letter-spacing: -0.15pt">4.2<I>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&#8239;&#8239;&#8239;Legends</I>.
The instrument representing the Securities and the Warrant Shares shall be endorsed with the legend set forth below:</FONT></P>

<P STYLE="font: 12pt/12pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; letter-spacing: -0.15pt">&nbsp;</FONT></P>

<P STYLE="font: 8pt/12pt Times New Roman, Times, Serif; margin: 0 1in; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; letter-spacing: -0.15pt">THE
SECURITIES REPRESENTED BY THIS CERTIFICATE HAVE NOT BEEN REGISTERED UNDER THE SECURITIES ACT OF 1933, AS AMENDED, OR UNDER ANY
STATE SECURITIES ACT. THE SECURITIES HAVE BEEN ACQUIRED FOR INVESTMENT AND MAY NOT BE SOLD, TRANSFERRED, PLEDGED OR HYPOTHECATED
UNLESS (I) THEY HAVE BEEN REGISTERED UNDER THE SECURITIES ACT OF 1933, AS AMENDED, AND ANY APPLICABLE STATE SECURITIES ACT, OR
(II) THE COMPANY SHALL HAVE BEEN FURNISHED AN OPINION OF COUNSEL, SATISFACTORY TO COUNSEL FOR THE COMPANY, THAT REGISTRATION IS
NOT REQUIRED UNDER ANY OF SUCH ACTS.</FONT></P>

<P STYLE="font: 12pt/12pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; letter-spacing: -0.15pt">&nbsp;</FONT></P>

<P STYLE="font: 12pt/12pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; letter-spacing: -0.15pt">In
addition, the instrument representing the Securities and the Warrant Shares shall be endorsed with any other legend required by
any state securities laws. The Company need not register a transfer of legended Securities and the Warrant Shares, and may also
instruct its transfer agent not to register the transfer of the Securities and the Warrant Shares, unless one of the conditions
specified in each of the foregoing legends is satisfied.</FONT></P>

<P STYLE="font: 12pt/12pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; letter-spacing: -0.15pt">&nbsp;</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 12pt/12pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 6pt; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0pt; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; letter-spacing: -0.15pt"><B>5.</B></FONT></TD><TD STYLE="width: 4%"></TD><TD STYLE="text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; letter-spacing: -0.15pt"><B>Indemnification
by Purchaser.</B></FONT></TD>
</TR></TABLE>

<P STYLE="font: 12pt/12pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; letter-spacing: -0.15pt"><B></B></FONT></P>

<P STYLE="font: 12pt/12pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; letter-spacing: -0.15pt">You
acknowledge and understand that the Company has agreed to offer and sell the Securities to you based upon the representations
and warranties made by you in this Agreement, and you hereby agree to indemnify the Company and to hold the Company and its incorporators,
officers, directors and professional advisors harmless against all liability, costs or expenses (including attorneys&rsquo; fees)
arising by reason of or in connection with any misrepresentation or any breach of such representations and warranties by you,
or arising as a result of the sale or distribution of any Securities by you in violation of the Securities Act or other applicable
law.</FONT></P>

<P STYLE="font: 12pt/12pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font: 10pt Times New Roman, Times, Serif; letter-spacing: -0.15pt">&nbsp;</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 12pt/12pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 6pt; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0pt; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; letter-spacing: -0.15pt"><B>6.</B></FONT></TD><TD STYLE="width: 4%"></TD><TD STYLE="text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; letter-spacing: -0.15pt"><B>Miscellaneous.</B></FONT></TD>
</TR></TABLE>

<P STYLE="font: 12pt/12pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">6.1&nbsp;&nbsp;&#8239;&#8239;&#8239;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<I>Successors
and Assigns</I>. All the provisions of this Agreement by or for the benefit of the parties shall bind and inure to the benefit
of respective successors and permitted assigns of each party.</FONT></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 12pt/12pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">6.2&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&#8239;&#8239;&#8239;&nbsp;&nbsp;<I>Notices</I>.
<FONT STYLE="letter-spacing: -0.15pt">All notices and other communications required or permitted hereunder shall be in writing
and shall be mailed by first class mail, postage prepaid, addressed (a)&nbsp;if to you, at your address set forth on the first
page hereof, or at such other address as you shall have furnished to the Company in writing, or (b)&nbsp;if to the Company, at
its address set forth on the first page hereof, or at such other address as the Company shall have furnished to you in writing
in accordance with this Section 6.2.</FONT></FONT></P>

<P STYLE="font: 12pt/12pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; letter-spacing: -0.15pt">&nbsp;</FONT></P>

<P STYLE="font: 12pt/12pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">6.3&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&#8239;&#8239;&nbsp;&nbsp;<I>Waivers;
Amendments</I>. Any provision of this Agreement may be amended or modified with (but only with) the written consent of the Company
and you. Any amendment, modification or waiver effected in compliance with this Section 6.3 shall be binding upon the Company
and you. No failure or delay of the Company or you in exercising any power or right hereunder shall operate as a waiver thereof,
nor shall any single or partial exercise of any such right or power, or any abandonment or discontinuance of steps to enforce
such a right or power, preclude any other or further exercise thereon or the exercise of any other right or power. The rights
and remedies of the Company and you hereunder are cumulative and not exclusive of any rights or remedies which each would otherwise
have.</FONT></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"></FONT></P>

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    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 6pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
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<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">6.4&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&#8239;&#8239;<I>Separability</I>.
In case any one or more of the provisions contained in this Agreement shall be invalid, illegal or unenforceable in any respect,
the validity, legality and enforceability of the remaining provisions contained herein shall not in any way be affected or impaired
thereby. The parties shall endeavor in good faith negotiations to replace the invalid, illegal or unenforceable provisions with
valid provisions, the economic effect of which comes as close as possible to that of the invalid, illegal or unenforceable provisions.</FONT></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">6.5&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&#8239;&#8239;<I>Governing
Law</I>. This Agreement shall be construed and enforced in accordance with the laws of the state of Oklahoma without regard to
principles of conflicts of law, except as otherwise required by mandatory provisions of law.</FONT></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">6.6&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&#8239;&#8239;<I>Section
Headings</I>. The section headings used herein are for convenience of reference only and shall not be construed in any way to
affect the interpretation of any provisions of this Agreement.</FONT></P>

<P STYLE="font: 12pt/12pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; letter-spacing: -0.15pt">&nbsp;</FONT></P>

<P STYLE="font: 12pt/12pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; letter-spacing: -0.15pt">6.7<I>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&#8239;&#8239;&#8239;Entire
Agreement</I>. This Agreement and the other documents delivered pursuant hereto constitute the full and entire understanding and
agreement between the parties hereto with regard to the subjects hereof and thereof.</FONT></P>

<P STYLE="font: 12pt/12pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; letter-spacing: -0.15pt">&nbsp;</FONT></P>

<P STYLE="font: 12pt/12pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; letter-spacing: -0.15pt">6.8<I>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&#8239;&#8239;&#8239;Finder&rsquo;s
Fees</I>. You represent and warrant to the Company that no finder or broker has been retained by you in connection with the transactions
contemplated by this Agreement and you hereby agree to indemnify and to hold the Company and its respective officers, directors
and controlling persons, harmless of and from any liability for any commission or compensation in the nature of a finder&rsquo;s
fee to any broker or other person or firm (and the costs and expenses of defending against such liability or asserted liability)
for which you, or any of your employees or representatives, are responsible. The Company hereby agrees to indemnify and to hold
you, and your respective officers, directors and controlling persons, harmless of and from any liability for any commission or
compensation in the nature of a finder&rsquo;s fee to any broker or other person or firm (and the costs and expenses of defending
against such liability or asserted liability) for which it, or any of its employees or representatives, are responsible.</FONT></P>

<P STYLE="font: 12pt/12pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; letter-spacing: -0.15pt">&nbsp;</FONT></P>

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Documents</I>. The parties to this Agreement shall in good faith execute such other and further instruments, assignments or documents
as may be necessary or advisable to carry out the transactions contemplated by this Agreement.</FONT></P>

<P STYLE="font: 12pt/12pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; letter-spacing: -0.15pt">&nbsp;</FONT></P>

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This Agreement may be executed in any number of counterparts, each of which shall be an original, but all of which together shall
constitute one instrument, and which shall become effective when there exist copies signed by the Company and by you.</FONT></P>

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on Next Page]</FONT></P>

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WITNESS WHEREOF, the undersigned have caused this Agreement to be executed by their duly authorized representatives effective
as of the date set forth on the first page hereof.</FONT></P>

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PETROLEUM CORPORATION</FONT></P>

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&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;Thomas W. Pritchard, CEO</FONT></P>

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<P STYLE="font: 12pt/12pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 3in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; letter-spacing: -0.15pt">By:<U>&#8239;&nbsp;&nbsp;</U>______________________<U>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</U></FONT></P>

<P STYLE="font: 12pt/12pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 3in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; letter-spacing: -0.15pt">&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;Michael
R. Morrisett, President</FONT></P>

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<P STYLE="font: 12pt/12pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; letter-spacing: -0.15pt">&nbsp;</FONT></P>

<P STYLE="font: 12pt/12pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; letter-spacing: -0.15pt">&nbsp;</FONT></P>

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and agreed to this ______ day of _____________, 2021.</FONT></P>

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&#9;&#9;______________________&#9;&#9;&#9;</FONT></P>

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<DOCUMENT>
<TYPE>EX-10.2
<SEQUENCE>3
<FILENAME>exh10-2_18485.htm
<DESCRIPTION>FORM OF COMMON SHARE WARRANT CERTIFICATE
<TEXT>
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<P STYLE="font: 18pt/25.5pt Arial, Helvetica, Sans-Serif; margin: 0; text-align: right; background-color: white; color: #444444"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B><U>EXHIBIT
10.2</U></B></FONT></P>

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 11.25pt 0 0"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">THE
SECURITIES REPRESENTED BY THIS CERTIFICATE HAVE NOT BEEN REGISTERED UNDER THE SECURITIES ACT OF 1933, AS AMENDED, OR UNDER ANY
STATE SECURITIES ACT. THE SECURITIES HAVE BEEN ACQUIRED FOR INVESTMENT AND MAY NOT BE SOLD, TRANSFERRED, PLEDGED OR HYPOTHECATED
UNLESS (I) THEY HAVE BEEN REGISTERED UNDER THE SECURITIES ACT OF 1933, AS AMENDED, AND ANY APPLICABLE STATE SECURITIES ACT, OR
(II) THE COMPANY SHALL HAVE BEEN FURNISHED AN OPINION OF COUNSEL, SATISFACTORY TO COUNSEL FOR THE COMPANY, THAT REGISTRATION IS
NOT REQUIRED UNDER ANY OF SUCH ACTS.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 11.25pt 0 0"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">No.
___________</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 11.25pt 0 0; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>EMPIRE
PETROLEUM CORPORATION</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 11.25pt 0 0; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>COMMON
SHARE WARRANT CERTIFICATE</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 11.25pt 0 0; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Warrant
to Purchase ________ Common Shares</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 11.25pt 0 0; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Expiring
December 31, 2022</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 11.25pt 0 0"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">THIS
CERTIFIES THAT _____________(the &quot;Warrant Holder&quot;), in consideration for entering into that certain Securities Purchase
Agreement dated as of February __, 2021 (&quot;Purchase Agreement&quot;), by and between the Warrant Holder and Empire Petroleum
Corporation, a Delaware corporation (the &quot;Company&quot;), at any time following the date hereof, on any Business Day on or
prior to 5:00 p.m., Pacific Time, on the Expiration Date (as defined in Section 1 below), is entitled to subscribe for and purchase
from the Company, up to _______ Common Shares (as defined in Section 1 below) at a price per Common Share equal to the Exercise
Price (as defined in Section 1 below); provided, however, that the number of Common Shares issuable upon any exercise of this
Warrant (as defined in Section 1 below) shall be adjusted and readjusted from time to time in accordance with Section 4 below.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 11.25pt 0 0"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">1.
Certain Definitions.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 11.25pt 0 0"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">The
following terms, as used herein, have the following meanings:</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 11.25pt 0 0"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&quot;Affiliate&quot;
means, with respect to any Person, any other Person that directly or indirectly controls, is controlled by, or is under common
control with such Person.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 11.25pt 0 0"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&quot;Business
Day&quot; means any day except a Saturday, Sunday or other day on which commercial banks in New York City are authorized by law
to close.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 11.25pt 0 0"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&quot;Commission&quot;
means the Securities and Exchange Commission.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 11.25pt 0 0"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&quot;Common
Share(s)&quot; means the Company's currently authorized class of Common Stock, par value $0.001.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 11.25pt 0 0"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&quot;Exchange
Act&quot; means the Securities Exchange Act of 1934, as amended, or any successor Federal statute, and the rules and regulations
of the Commission thereunder, all as the same shall be in effect at the time. Reference to a particular section of the Exchange
Act shall include a reference to the comparable section, if any, of any such successor Federal statute.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 11.25pt 0 0"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&quot;Exercise
Price&quot; means $0.50 with respect to up to __________Warrant Shares.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 11.25pt 0 0"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&quot;Person&quot;
means an individual, a corporation, a partnership, a limited liability company, an association, a trust or any other entity or
organization, including a government or political subdivision or an agency or instrumentality thereof.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 11.25pt 0 0"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&quot;Securities
Act&quot; means the Securities Act of 1933, as amended, or any successor Federal statute, and the rules and regulations of the
Commission thereunder, all as the same shall be in effect at the time. Reference to a particular section of the Securities Act
shall include a reference to the comparable section, if any, of any such successor Federal statute.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 11.25pt 0 0"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&quot;Warrant&quot;
means the rights granted to the Warrant Holder pursuant to this Warrant Certificate.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 11.25pt 0 0"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&quot;Warrant
Certificate&quot; means this Common Share Warrant Certificate.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 11.25pt 0 0"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 11.25pt 0 0"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"></FONT></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 11.25pt 0 0"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 11.25pt 0 0"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&quot;Warrant
Share(s)&quot; means the _________ Common Shares issued or issuable upon exercise of this Warrant, as adjusted from time to time
pursuant to Section 4.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 11.25pt 0 0"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">2.
Vesting and Exercise.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 11.25pt 0 0"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">2.1
Vesting. The Warrant and the Warrant Shares shall immediately vest upon the execution of this Warrant Certificate.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 11.25pt 0 0"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">2.2
Exercise of Warrant.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 11.25pt 0 0"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(a)
The Warrant Holder may exercise this Warrant by delivering to the Company a duly executed notice (a &quot;Notice of Exercise&quot;)
in the form of Annex A attached hereto, at the election of the Warrant Holder, in which the Warrant Holder shall receive from
the Company the number of Warrant Shares as to which this Warrant is being exercised and shall pay to the Company the Exercise
Price for each such Warrant Share by check payable to the order of the Company in an amount equal to the product of: (a) the Exercise
Price times (b) the number of Warrant Shares as to which the Warrant is being exercised.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 11.25pt 0 0"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(b)
As soon as practicable, but not later than five (5) Business Days after the Company shall have received such Notice of Exercise
and payment, the Company shall execute and deliver or cause to be executed and delivered, in accordance with such Notice of Exercise,
a certificate or certificates representing the number of Common Shares specified in such Notice of Exercise, issued in the name
of the Warrant Holder. This Warrant shall be deemed to have been exercised and such share certificate or certificates shall be
deemed to have been issued, and such Warrant Holder shall be deemed for all purposes to have become a holder of record of Common
Shares, as of the date that such Notice of Exercise and payment shall have been received by the Company.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 11.25pt 0 0"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(c)
The Warrant Holder shall surrender this Warrant Certificate to the Company when it delivers the Notice of Exercise, and in the
event of a partial exercise of the Warrant, the Company shall execute and deliver to the Warrant Holder, at the time the Company
delivers the share certificate or certificates issued pursuant to such Notice of Exercise, a new Warrant Certificate for the unexercised
portion of this Warrant Certificate, but in all other respects identical to this Warrant Certificate.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 11.25pt 0 0"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(d)
The Company shall pay all expenses, taxes and other charges payable in connection with the preparation, issuance and delivery
of certificates for the Warrant Shares and a new Warrant Certificate, if any, except that if the certificates for the Warrant
Shares or the new Warrant Certificate, if any, are to be registered in a name or names other than the name of the Warrant Holder,
funds sufficient to pay all transfer taxes payable as a result of such transfer shall be paid by the Warrant Holder at the time
of its delivery of the Notice of Exercise or promptly upon receipt of a written request by the Company for payment.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 11.25pt 0 0"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(e)
No fractional Common Shares will be issued in connection with any exercise of the Warrant, and any fractional Common Share (resulting
from any adjustment pursuant to Section 4 or otherwise) in the aggregate number of Common Shares being purchased upon any exercise
of the Warrant shall be eliminated.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 11.25pt 0 0"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">2.3
Early Expiration.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 11.25pt 0 0"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(a)
In the event that the closing price of the Company&rsquo;s Common Shares are listed on an exchange registered as a national securities
exchange under section 6 of the Securities Exchange Act of 1934 (15 U.S.C. 78f) and exceeds $0.75 for any period of 20 consecutive
trading days, the Warrant shall expire with respect to such Warrant Shares on the 90th day thereafter (each, an &ldquo;Early Expiration
Date&rdquo;); provided, however, that the Company must give prior written notice to the Warrant Holder not less than 30 days prior
to any Early Expiration Date for such Early Expiration Date to be applicable to the Warrant Holder; and, provided further, that
the Warrant Holder shall remain entitled to exercise this Warrant with respect to such Warrant Shares at any time up to and including
the Business Day immediately preceding the applicable Early Expiration Date.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 11.25pt 0 0"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(b)
In the event that the Warrant Holder fails to exercise any portion of the Warrant subject to expiration in accordance with Section
2.3(a) above prior to any Early Expiration Date, all rights of the Warrant Holder under this Warrant Certificate with respect
to such Warrant Shares shall cease and this Warrant shall no longer be deemed to be outstanding with respect to such Warrant Shares.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 11.25pt 0 0"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">3.
Validity of Warrant and Issuance of Common Shares.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 11.25pt 0 0"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">The
Company represents and warrants that this Warrant has been duly authorized and is validly issued. The Company further represents
and warrants that on the date hereof it has duly authorized and reserved, and the Company hereby agrees that it will at all times
until the Expiration Date have duly authorized and reserved, such number of Common Shares as will be sufficient to permit the
exercise in full of the Warrant, and that all such Common Shares are and will be duly authorized and, when issued upon exercise
of the Warrant, will be validly issued, fully paid and nonassessable, and free and clear of all security interests, claims, liens,
equities and other encumbrances.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 11.25pt 0 0"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"></FONT></P>



<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 11.25pt 0 0"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 11.25pt 0 0"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 11.25pt 0 0"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">4.
Adjustment Provisions.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 11.25pt 0 0"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">The
number of Warrant Shares that may be purchased upon any exercise of the Warrant, shall be subject to change or adjustment as follows:</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 11.25pt 0 0"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">4.1
Common Share Reorganization. If the Company shall subdivide its outstanding Common Shares into a greater number of shares, by
way of share split, share dividend or otherwise, or consolidate its outstanding Common Shares into a smaller number of shares
(any such event being herein called a &quot;Common Share Reorganization&quot;), then (a) the definition of Exercise Price shall
be adjusted, effective immediately after the effective date of such Common Share Reorganization, so that each amount contained
in the definition of the Exercise Price is equal to such amount multiplied by a fraction, the numerator of which shall be the
number of Common Shares outstanding on such effective date before giving effect to such Common Share Reorganization and the denominator
of which shall be the number of Common Shares outstanding after giving effect to such Common Shares Reorganization, and (b) the
number of Common Shares subject to purchase upon exercise of this Warrant shall be adjusted, effective at such time, to a number
determined by multiplying the number of Common Shares subject to purchase immediately before such Common Share Reorganization
by a fraction, the numerator of which shall be the number of shares outstanding after giving effect to such Common Share Reorganization
and the denominator of which shall be the number of Common Shares outstanding immediately before giving effect to such Common
Share Reorganization.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 11.25pt 0 0"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">4.2
Capital Reorganization. If there shall be any consolidation or merger to which the Company is a party, other than a consolidation
or a merger of which the Company is the continuing corporation and that does not result in any reclassification of, or change
(other than a Common Share Reorganization) in, outstanding Common Shares, or any sale or conveyance of the property of the Company
as an entirety or substantially as an entirety, or any recapitalization of the Company (any such event being called a &quot;Capital
Reorganization&quot;), then, effective upon the effective date of such Capital Reorganization, the Warrant Holder shall no longer
have the right to purchase Common Shares, but shall have instead the right to purchase, upon exercise of this Warrant, the kind
and amount of Common Shares and other securities and property (including cash) which the Warrant Holder would have owned or have
been entitled to receive pursuant to such Capital Reorganization, if the Warrant had been exercised immediately prior to the effective
date of such Capital Reorganization.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 11.25pt 0 0"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">4.3
Adjustment Rules.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 11.25pt 0 0"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(a)
Any adjustments pursuant to this Section 4 shall be made successively whenever any event referred to herein shall occur, except
that, notwithstanding any other provision of this Section 4, no adjustment shall be made to the number of Warrant Shares to be
delivered to the Warrant Holder (or to the Exercise Price) if such adjustment represents less than one-percent (1%) of the number
of Warrant Shares previously required to be so delivered, but any lesser adjustment shall be carried forward and shall be made
at the time and together with the next subsequent adjustment which together with any adjustments so carried forward shall amount
to one-percent (1%) or more of the number of Warrant Shares to be so delivered.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 11.25pt 0 0"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(b)
If the Company shall take a record of the holders of its Common Shares for any purpose referred to in this Section 4, then (i)
such record date shall be deemed to be the date of the issuance, sale, distribution or grant in question and (ii) if the Company
shall legally abandon such action prior to effecting such action, no adjustment shall be made pursuant to this<BR>
Section 4 in respect of such action.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 11.25pt 0 0"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(c)
As a condition precedent to the taking of any action which would require an adjustment pursuant to this Section 4, the Company
shall take any action which may be necessary, including obtaining regulatory approvals or exemptions, in order that the Company
may thereafter validly and legally issue as fully paid and nonassessable all Common Shares which the Warrant Holder is entitled
to receive upon exercise of this Warrant.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 11.25pt 0 0"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">5.
Transfer of Warrant.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 11.25pt 0 0"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">5.1
No Transfer Without the Consent of the Company. This Warrant is personal to the Warrant Holder and this Warrant Certificate and
the rights of the Warrant Holder hereunder may not be sold, assigned, transferred or conveyed, in whole or in part, except with
the prior written consent of the Company.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 11.25pt 0 0"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">5.2
Permitted Transfers. Upon transfer of the Warrant permitted under Section 5.1 above, the Warrant Holder must deliver to the
Company a duly executed Warrant Assignment in the form of Annex B, attached hereto, with funds sufficient to pay any transfer
tax imposed in connection with such assignment. Upon surrender of this Warrant to the Company, the Company shall execute and
deliver a new Warrant in the form of this Warrant, with appropriate changes to reflect such assignment, in the name or names
of the assignee or assignees specified in the fully executed Warrant Assignment or other instrument of assignment and, if the
Warrant Holder's entire interest is not being transferred or assigned, in the name of the Warrant Holder, and this Warrant
shall promptly be canceled. In connection with any transfer or exchange of this Warrant permitted hereunder, the transferring
Warrant Holder shall pay all costs and expenses relating thereto, including, without limitation, all transfer taxes, if any,
and all reasonable expenses incurred by the Company (including legal fees and expenses). Any new Warrant issued shall be
dated the date hereof. The terms &quot;Warrant&quot; and &quot;Warrant Holder&quot; as used herein include all Warrants into
which this Warrant (or any successor Warrant) may be exchanged or issued in connection with the permitted transfer or
assignment of this Warrant, any successor Warrant and the holders of those Warrants, respectively.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 11.25pt 0 0"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"></FONT></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 11.25pt 0 0"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;6.
Lost Mutilated or Missing Warrant Certificates.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 11.25pt 0 0"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Upon
receipt by the Company of evidence satisfactory to it of the loss, theft, destruction or mutilation of this Warrant Certificate
and, in the case of loss, theft or destruction, upon receipt of indemnification satisfactory to the Company, or, in the case of
mutilation, upon surrender and cancellation of the mutilated Warrant Certificate, the Company shall execute and deliver a new
Warrant Certificate of like tenor and representing the right to purchase the same aggregate number of Warrant Shares. The recipient
of any such Warrant Certificate shall reimburse the Company for all reasonable expenses incidental to the replacement of such
lost, mutilated or missing Warrant Certificate.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 11.25pt 0 0"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">7.
Miscellaneous.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 11.25pt 0 0"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">7.1
Successors and Assigns. All the provisions of this Warrant Certificate by or for the benefit of the Company or the Warrant Holder
shall bind and inure to the benefit of their respective successors and permitted assigns.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 11.25pt 0 0"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">7.2
Notices. All notices, requests, demands and other communications hereunder shall be given in accordance with the terms of the
Purchase Agreement.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 11.25pt 0 0"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">7.3
Waivers; Amendments. Any provision of this Warrant Certificate may be amended or modified with (but only with) the written consent
of the Company and the Warrant Holder. Any amendment, modification or waiver effected in compliance with this Section 7.3 shall
be binding upon the Company and the Warrant Holder. No failure or delay of the Company or the Warrant Holder in exercising any
power or right hereunder shall operate as a waiver thereof, nor shall any single or partial exercise of any such right or power,
or any abandonment or discontinuance of steps to enforce such a right or power, preclude any other or further exercise thereon
or the exercise of any other right or power. The rights and remedies of the Company and the Warrant Holder hereunder are cumulative
and not exclusive of any rights or remedies which each would otherwise have.<BR>
7.4 No Rights as a Shareholder. The Warrant shall not entitle the Warrant Holder, prior to the exercise of the Warrant, to any
rights as a holder of shares of the Company.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 11.25pt 0 0"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">7.5
Separability. In case any one or more of the provisions contained in this Warrant shall be invalid, illegal or unenforceable in
any respect, the validity, legality and enforceability of the remaining provisions contained herein shall not in any way be affected
or impaired thereby. The parties shall endeavor in good faith negotiations to replace the invalid, illegal or unenforceable provisions
with valid provisions, the economic effect of which comes as close as possible to that of the invalid, illegal or unenforceable
provisions.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 11.25pt 0 0"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">7.6
Governing Law. This Warrant shall be construed and enforced in accordance with the laws of the State of Oklahoma without regard
to principles of conflicts of law, except as otherwise required by mandatory provisions of law.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 11.25pt 0 0"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">7.7
Section Headings. The section headings used herein are for convenience of reference only and shall not be construed in any way
to affect the interpretation of any Provisions of the Warrant.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 11.25pt 0 0"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">IN
WITNESS WHEREOF, the Company has caused this Warrant Certificate to be duly executed and attested by its Chief Executive Officer,
all as of the day and year first above written.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 11.25pt 0 0; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>&nbsp;</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 11.25pt 0 0; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>EMPIRE
PETROLEUM CORPORATION</B></FONT></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 11.25pt 0 0; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 11.25pt 0 0; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">By:
__________________________________________<BR>
Thomas W. Pritchard, Chief Executive Officer</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 11.25pt 0 0; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 11.25pt 0 0; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">By:
__________________________________________<BR>
Michael R. Morrisett, President</FONT></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 11.25pt 0 0; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 8pt Times New Roman, Times, Serif; margin: 11.25pt 0 0; text-align: center"></P>

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<P STYLE="font: 8pt Times New Roman, Times, Serif; margin: 11.25pt 0 0; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>&nbsp;</B></FONT></P>

<P STYLE="font: 8pt Times New Roman, Times, Serif; margin: 11.25pt 0 0; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>ANNEX
A</B></FONT></P>

<P STYLE="font: 8pt Times New Roman, Times, Serif; margin: 11.25pt 0 0; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Form
of Notice of Exercise</B></FONT></P>

<P STYLE="font: 8pt Times New Roman, Times, Serif; margin: 11.25pt 0 0; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Date:
__________</FONT></P>

<P STYLE="font: 8pt Times New Roman, Times, Serif; margin: 11.25pt 0 0"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">To:
Empire Petroleum Corporation</FONT></P>

<P STYLE="font: 8pt Times New Roman, Times, Serif; margin: 11.25pt 0 0"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Reference
is made to the Common Share Purchase Warrant dated ____________ issued to the undersigned by Empire Petroleum Corporation. Terms
defined therein are used herein as therein defined.</FONT></P>

<P STYLE="font: 8pt Times New Roman, Times, Serif; margin: 11.25pt 0 0"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">The
undersigned, pursuant to the provisions set forth in the Warrant Certificate, hereby irrevocably elects and agrees to purchase
the number of Common Shares at the Exercise Price(s) set forth below, and makes payment herewith by check payable to the order
of the Company in an amount equal to $________.</FONT></P>

<P STYLE="font: 8pt/11.25pt Times New Roman, Times, Serif; margin: 0"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: center"></P>

<TABLE CELLPADDING="0" CELLSPACING="0" ALIGN="CENTER" STYLE="border-collapse: collapse; font: 8pt Times New Roman, Times, Serif; width: 50%">
<TR STYLE="vertical-align: top; text-align: left">
    <TD STYLE="text-align: center; width: 45%; vertical-align: bottom">Number
of Warrant Shares</TD>
    <TD STYLE="text-align: center; width: 10%; vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="text-align: center; width: 45%; vertical-align: bottom">Applicable Exercise Price</TD></TR>
<TR STYLE="vertical-align: top; text-align: left">
    <TD STYLE="border-bottom: Black 1pt solid">&nbsp;</TD>
    <TD STYLE="padding-bottom: 1pt"><P STYLE="margin-top: 0; margin-bottom: 0">&nbsp;</P>
                                    <P STYLE="margin-top: 0; margin-bottom: 0">&nbsp;</P></TD>
    <TD STYLE="border-bottom: Black 1pt solid">&nbsp;</TD></TR>
</TABLE>

<P STYLE="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: center">&nbsp;</P>

<P STYLE="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: center">&nbsp;</P>

<P STYLE="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: center"></P>

<P STYLE="font: 8pt Times New Roman, Times, Serif; margin: 11.25pt 0 0"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">If
said number of shares is less than all of the shares purchasable hereunder, the undersigned hereby requests that a new Warrant
Certificate representing the remaining balance of the Warrant Shares be issued to me.</FONT></P>

<P STYLE="font: 8pt Times New Roman, Times, Serif; margin: 11.25pt 0 0"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">The
undersigned hereby represents that it is exercising the Warrant for its own account for investment purposes and not with the view
to any sale or distribution and that the Warrant Holder will not offer, sell or otherwise dispose of the Warrant or any underlying
Warrant Shares in violation of applicable securities laws.</FONT></P>

<P STYLE="font: 8pt Times New Roman, Times, Serif; margin: 11.25pt 0 0"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">By:________________________________________
Name:________________________________________ Title:_______________________________________</FONT></P>

<P STYLE="font: 8pt Times New Roman, Times, Serif; margin: 0"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>&nbsp;</B></FONT></P>

<P STYLE="font: 8pt Times New Roman, Times, Serif; margin: 11.25pt 0 0"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>&nbsp;</B></FONT></P>

<P STYLE="font: 8pt Times New Roman, Times, Serif; margin: 11.25pt 0 0; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 8pt Times New Roman, Times, Serif; margin: 11.25pt 0 0; text-align: center"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 8pt Times New Roman, Times, Serif; margin: 11.25pt 0 0; text-align: center"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 8pt Times New Roman, Times, Serif; margin: 11.25pt 0 0; text-align: center"></P>

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<P STYLE="font: 8pt Times New Roman, Times, Serif; margin: 11.25pt 0 0; text-align: center"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 8pt Times New Roman, Times, Serif; margin: 11.25pt 0 0; text-align: center"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"><B>ANNEX
B</B></FONT></P>

<P STYLE="font: 8pt Times New Roman, Times, Serif; margin: 11.25pt 0 0; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Form
of Warrant Assignment</B></FONT></P>

<P STYLE="font: 8pt Times New Roman, Times, Serif; margin: 11.25pt 0 0"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Reference
is made to the Common Share Purchase Warrant dated __________, issued to the undersigned by Empire Petroleum Corporation. Terms
defined therein are used herein as therein defined.</FONT></P>

<P STYLE="font: 8pt Times New Roman, Times, Serif; margin: 11.25pt 0 0"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">FOR
VALUE RECEIVED __________________ (the &quot;Assignor&quot;) hereby sells, assigns and transfers all of the rights of the Assignor
as set forth in the Warrant Certificate with respect to the number of Warrant Shares covered thereby as set forth below, to the
Assignee(s) as set forth below:</FONT></P>

<P STYLE="font: 8pt/11.25pt Times New Roman, Times, Serif; margin: 0"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 8pt/11.25pt Times New Roman, Times, Serif; margin: 0"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"></FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" ALIGN="CENTER" STYLE="border-collapse: collapse; font: 10pt Times New Roman, Times, Serif; width: 80%">
<TR STYLE="vertical-align: top; text-align: left">
    <TD STYLE="text-align: center; width: 16%; vertical-align: bottom"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Name
of Assignee</TD>
    <TD STYLE="text-align: center; width: 10%; vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="text-align: center; width: 16%; vertical-align: bottom">Address</TD>
    <TD STYLE="text-align: center; width: 10%; vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; text-align: center; width: 16%; vertical-align: bottom"><P STYLE="margin-top: 0; margin-bottom: 0">Number of Applicable</P>
                           <P STYLE="margin-top: 0; margin-bottom: 0">Warrant
Shares</P></TD>
    <TD STYLE="text-align: center; width: 10%; vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; text-align: center; width: 16%; vertical-align: bottom"><P STYLE="margin-top: 0; margin-bottom: 0">Exercise Price of</P>
                           <P STYLE="margin-top: 0; margin-bottom: 0">Warrant Shares</P></TD></TR>
<TR STYLE="vertical-align: top; text-align: left">
    <TD STYLE="border-bottom: Black 1pt solid"><P STYLE="margin-top: 0; margin-bottom: 0">&nbsp;</P>
                                               <P STYLE="margin-top: 0; margin-bottom: 0">&nbsp;</P></TD>
    <TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid">&nbsp;</TD>
    <TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid">&nbsp;</TD>
    <TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid">&nbsp;</TD></TR>
</TABLE>

<P STYLE="font: 8pt/11.25pt Times New Roman, Times, Serif; margin: 0"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 8pt/11.25pt Times New Roman, Times, Serif; margin: 0"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"></FONT></P>

<P STYLE="font: 8pt Times New Roman, Times, Serif; margin: 11.25pt 0 0"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">All
notices to be given by the Company to the Assignor as Warrant Holder shall be sent to the Assignee(s) at the above listed address(es),
and, if the number of Warrant Shares being hereby assigned is less than all of the Warrant Shares covered by the Warrant Certificate
held by the Assignor, then also to the Assignor.</FONT></P>

<P STYLE="font: 8pt Times New Roman, Times, Serif; margin: 11.25pt 0 0"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">In
accordance with Section 5 of the Warrant Certificate, the Assignor requests that the Company execute and deliver a new Warrant
Certificate or Warrant Certificates in the name or names of the Assignee or Assignees, as is appropriate, or, if the number of
Warrant Shares being hereby assigned is less than all of the Warrant Shares covered by the Warrant held by the Assignor, new Warrant
Certificates in the name or names of the Assignee or the Assignees, as is appropriate, and in the name of the Assignor.</FONT></P>

<P STYLE="font: 8pt Times New Roman, Times, Serif; margin: 11.25pt 0 0"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">The
undersigned represents that the Assignee has represented to the Assignor that the Assignee or each Assignee, as is appropriate,
is acquiring the Warrant for its own account or the account of an Affiliate for investment purposes and not with the view to sell
or distribute, and that the Assignee or each Assignee, as is appropriate, will not offer, sell or otherwise dispose of the Warrant
or the Warrant Shares except under circumstances as will not result in a violation of applicable securities laws.</FONT></P>

<P STYLE="font: 8pt Times New Roman, Times, Serif; margin: 11.25pt 0 0"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Dated:__________</FONT></P>

<P STYLE="font: 8pt Times New Roman, Times, Serif; margin: 11.25pt 0 0"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">By:__________________________________________
Name:________________________________________ Title:_______________________________________</FONT></P>

<P STYLE="font: 8pt Times New Roman, Times, Serif; margin: 11.25pt 0 0">&nbsp;</P>

<P STYLE="font: 8pt Times New Roman, Times, Serif; margin: 11.25pt 0 0">&nbsp;</P>

<P STYLE="font: 8pt Times New Roman, Times, Serif; margin: 11.25pt 0 0">&nbsp;</P>

<P STYLE="font: 8pt Times New Roman, Times, Serif; margin: 11.25pt 0 0">&nbsp;</P>

<P STYLE="font: 8pt Times New Roman, Times, Serif; margin: 11.25pt 0 0">&nbsp;</P>

<P STYLE="font: 8pt Times New Roman, Times, Serif; margin: 11.25pt 0 0">&nbsp;</P>

<P STYLE="font: 8pt Times New Roman, Times, Serif; margin: 11.25pt 0 0">&nbsp;</P>

<P STYLE="font: 8pt Times New Roman, Times, Serif; margin: 11.25pt 0 0">&nbsp;</P>

<P STYLE="font: 8pt Times New Roman, Times, Serif; margin: 11.25pt 0 0">&nbsp;</P>

<P STYLE="font: 8pt Times New Roman, Times, Serif; margin: 11.25pt 0 0">&nbsp;</P>

<P STYLE="font: 8pt Times New Roman, Times, Serif; margin: 11.25pt 0 0"></P>

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